Posted by admin on Jun 27th, 2022
CAPROCK Group Inc. purchased a new stake in Nucor Co. (NYSE:NUE – Get Rating) in the first quarter, Holdings Channel reports. The institutional investor purchased 1,548 shares of the basic materials company’s stock, valued at approximately $231,000.
Several other large investors have also bought and sold shares of the company. Dark Forest Capital Management LP bought a new position in shares of Nucor in the third quarter valued at $43,000. Wellington Management Group LLP lifted its holdings in shares of Nucor by 31.7% during the third quarter. Wellington Management Group LLP now owns 201,496 shares of the basic materials company’s stock valued at $19,845,000 after purchasing an additional 48,543 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Nucor by 5.0% in the 3rd quarter. Cetera Advisors LLC now owns 5,544 shares of the basic materials company’s stock valued at $546,000 after purchasing an additional 264 shares during the period. Centiva Capital LP increased its stake in Nucor by 290.2% in the 3rd quarter. Centiva Capital LP now owns 26,508 shares of the basic materials company’s stock worth $2,611,000 after purchasing an additional 19,714 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Nucor by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,789,357 shares of the basic materials company’s stock worth $274,725,000 after buying an additional 155,414 shares during the period. Institutional investors own 77.70% of the company’s stock.
NUE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 14th. Credit Suisse Group lifted their price target on Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. BMO Capital Markets reduced their price objective on Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. UBS Group set a $120.00 target price on Nucor in a research note on Monday, June 20th. Finally, The Goldman Sachs Group reduced their price target on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of “Hold” and a consensus price target of $132.55.
Shares of NUE opened at $111.06 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.66 and a current ratio of 2.88. The firm has a market cap of $29.55 billion, a PE ratio of 3.97 and a beta of 1.23. Nucor Co. has a twelve month low of $87.71 and a twelve month high of $187.90. The firm’s 50 day moving average price is $133.58 and its 200 day moving average price is $128.05.
Nucor (NYSE:NUE – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $7.35 by $0.32. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.72 billion. Nucor had a net margin of 19.97% and a return on equity of 55.61%. Nucor’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.10 EPS. On average, sell-side analysts anticipate that Nucor Co. will post 29.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, June 29th. Nucor’s dividend payout ratio is 7.15%.
In related news, EVP Daniel R. Needham sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total value of $640,000.00. Following the transaction, the executive vice president now directly owns 46,994 shares in the company, valued at approximately $7,519,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leon J. Topalian sold 48,768 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the sale, the chief executive officer now owns 135,809 shares of the company’s stock, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Nucor Corporation manufactures and sells steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE – Get Rating).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.
Insider Selling: ChargePoint Holdings, Inc. (NYSE:CHPT) CAO Sells 1,451 Shares of Stock
CMH Wealth Management LLC Grows Stake in Johnson & Johnson (NYSE:JNJ)